PETER OBI Mocks APC-Led FG for "Delusional Celebration of Macroeconomic Stability"
The Presidential candidate of the Nigeria Democratic Congress, NDC, PETER OBI, has criticised the APC-led Federal Government for what he calls the delusional celebration of macroeconomic stability.
PETER OBI drew the government’s attention to a warning by the United States Government to prospective investors on inherent risks in Nigeria.
OBI says the contradiction shows that the government led by President BOLA TINUBU is incompetent, ineffective and corrupt.
He referred to the 2026 Nigeria Investment Climate Statement, pointing out that the U.S. Department of State clearly flagged corruption, insecurity, inconsistent regulatory enforcement and weaknesses in the judicial system among challenges affecting businesses in Nigeria.
He said others are cargo delays and power sector challenges, which he described as key factors undermining investor confidence in Nigeria.
“The report went further to caution investors of the possible use of arbitrary detention, travel restriction and immigration enforcement to coerce foreign businesses in Nigeria” OBI noted.
In a statement, the NDC Presidential candidate said in a nation with an effective, competent and attentive government, such an adverse report would have triggered immediate intervention by the President and Commander in Chief.
PETER OBI said they should have been an order for a prompt investigation, follow-up and effective action to ensure that Nigeria is not perceived negatively by one of its key trading partners.
However, he described the APC- led government as incompetent, saying it cannot give what it does not have, just as he noted that they are the real perpetrators of the issues raised by the U.S. Government.
“This explains why Nigeria is unable to attract Foreign Direct Investment commensurate with our market size and potential. Of the $10.37 billion in total capital importation in the first quarter of 2026, only $135.08 million (about 1.3% of the total inflows) was Foreign Direct Investment (FDI), while about $9.86 billion (about 95.1% of the total inflows) went into Foreign Portfolio Investment (FPI) with loans and other capital streams accounting for the remaining.
“It is paradoxical that while the Tinubu administration is celebrating macroeconomic stability, it is unwittingly scaring away foreign investors. What a shame”, the statement concluded.